2007-07-25 11:30:30 · 5 answers · asked by dan c 1 in Business & Finance ➔ Personal Finance
Go back to the bank you had problems with and talk to them about squaring away any debt. Once that is done they will release the hold on the network they use. Until then just talk to different banks and explain the situation up front. They will tell you if it is possible to open a bank account. All of my posts concerning bad history recommend being open to the company(s) your dealing with. The Good ones will understand and work with you either by direction of things to do or assisting in the process you need.
Good Luck
2007-07-25 11:38:58 · answer #1 · answered by Donald C 3 · 0⤊ 0⤋
Do you mean to say that you are in Chexsystems? If you are in chexsystems the only way you can open a new bank account is to
a) pay the bad account off, and get a letter saying you did as such (because chexsystems reports stay for 5 years, and they will be reported as paid off, but that can take a month or two) the new bank may allow you to open an account then.
b) find a bank that does not use chexsystems...only about 85% of banks use it, so you can do an internet search for banks that don't.
Also, you have a right to a free Chexsystems report once a year just like with your credit report, or if you are turned down by a bank for an account, just like with your credit report. So pull your chexsystem report and find out what is on there that is holding you back.
2007-07-25 11:40:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Sounds like you are on Chexsystems. This is a screening/reporting tool banks use to see if people have previously misused/abused accounts. A bad record can stay for up to five years.
Depending on the circumstance, you can get a new account often referred to as a "Second Chance" account. Sometimes you may be required to pay off your previous debt.
I know that US Bank, Bank of America, and Compass Bank all offer these accounts.
2007-07-25 11:41:53 · answer #3 · answered by Melissa H. 2 · 0⤊ 0⤋
Bank accounts don't "go bad". YOU mishandled your account. If you contact the bank that held your former account and pay back whatever they wrote off, they may update your record with Chexsystems. It is unlikely ANY bank will offer you an account with reasonable terms unless you do this.
2007-07-25 12:43:47 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
If you bounce checks, etc. and go into "ChexSystems" it takes five years to get a new account at ANY bank. You go into a database.
2007-07-25 11:38:33 · answer #5 · answered by Teresa 5 · 0⤊ 1⤋